White House Announces $20 BILLION Plan With International Partners for Indonesia
(TheRedWire.com) – From day one in office, President Joe Biden has pushed an aggressive climate change, green agenda. On Tuesday, November 15, the White House announced that a group of G20 launched a program that would initially provide $20 billion in public and private investments over three to five years to help Indonesia transition from coal-producing electricity toward a green economy. Known as the “Just Energy Transition Partnership” (JETP), the coalition of 9 countries and the European Union will assist Indonesia’s shift. The plan will be funded using grants, loans, guarantees, and private investments.
The JETP issued a statement detailing its plan to achieve “the most ambitious emissions cuts possible.” It said it supports putting Indonesia on a path to reach a warming limit of 1.5 degrees Celsius above pre-industrial levels. Indonesian President Joko Widodo said his country remained committed to the process and that the partnership would create valuable lessons for the international community to replicate.
Biden announces $20B to move Indonesia away from coal https://t.co/YjT9XmBkm8
— Fox News (@FoxNews) November 15, 2022
Indonesia will also create a plan to reach net-zero emissions by 2050. It will also ensure a minimum of 34% of its power generation comes from renewable energy by 2030.
Earlier in 2022, the southeast Asian country said it would cut emission levels by 32%, or 43%, by 2030 with the help of other countries. Currently, China is the world’s largest contributor to greenhouse emissions. The US and Japan are second and fifth, respectively. Indonesia is the 10th worst emitter.
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